Arc Resources (OTCMKTS:AETUF) Hits New 1-Year High – Here’s Why

Arc Resources Ltd. (OTCMKTS:AETUF) hit a new 52-week high during trading on Friday . The company traded as high as $23.96 and last traded at $23.96, with a volume of 5223 shares changing hands. The stock had previously closed at $23.6180.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AETUF shares. Zacks Research lowered shares of Arc Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Scotiabank reaffirmed a “sector perform” rating on shares of Arc Resources in a report on Wednesday, April 29th. Capital One Financial lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Arc Resources in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Arc Resources presently has a consensus rating of “Hold”.

Arc Resources Stock Up 1.4%

The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.32. The stock has a market cap of $13.57 billion, a PE ratio of 13.38 and a beta of 0.26. The business has a 50 day moving average price of $22.40 and a 200 day moving average price of $20.96.

Arc Resources (OTCMKTS:AETUF) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Equities research analysts expect that Arc Resources Ltd. will post 1.68 EPS for the current fiscal year.

About Arc Resources

Arc Resources Ltd., trading on the OTC Markets under the ticker AETUF, is a Canadian energy company primarily engaged in the exploration, development and production of natural gas, condensate and natural gas liquids. Headquartered in Calgary, Alberta, the company’s core operations are concentrated in the Montney formation, a premier resource play extending across northeastern British Columbia and northwestern Alberta. Arc’s portfolio emphasizes liquids-rich gas production supported by proprietary midstream infrastructure, including gas processing facilities, pipelines and water management systems.

Since its formation in the mid-1990s as Arc Energy Trust and its conversion to a corporation in 2015, Arc Resources has pursued a disciplined growth strategy focused on operational efficiency, cost control and sustainable development.